Are Focus Groups Still Worth the Investment for Market Research? | Ep. #358

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 24 July 2017

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

In Episode #358, Eric and Neil discuss whether a focus group is still worth the investment for market research. Tune in to learn more about focus groups and how technology has played a major role in how we conduct market research today! Time Stamped Show Notes: 00:27 – Today’s topic: Are Focus Groups Still Worth the Investment for Market Research? 00:38 – A focus group is when a group of people that are your ideal customers come to discuss a certain product that you may be launching 00:56 – Neil did a focus group that was paid by Yahoo 01:09 – The people discussed Yahoo and its competitors 01:50 – Focus groups were very effective before, but it won’t be as effective now 01:58 – Technology has changed the face of market research, people can find their answers online and surveys to collect information are done online as well 02:32 – Eric doesn’t see the need for an in-person focus group 03:02 – Mileage may still vary 03:12 – Marketing School is giving away a free 1 year subscription to Olark which is a live chat software tool 03:24 – Subscribe, rate and review Marketing School 03:30 – Text MARKETINGSCHOOL to 33444 for those in the US 03:26 – That’s it for today’s episode! 3 Key Points: A focus group is a group of your ideal customers who meet you in person to discuss a product. Focus groups were effective for market research before mass improvements were made in technology. If your targeted customers are seniors, focus groups might still work as they prefer face-to-face surveys and conversations. Leave some feedback: What should we talk about next? Please let us know in the comments below. Did you enjoy this episode? If so, please leave a short review. Connect with us: NeilPatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Get ready for your daily dose of marketing strategies and tactics from
0:06.8	entrepreneurs with the guile and experience to help you find success in any
0:11.4	marketing capacity. You're listening to marketing school
0:14.5	with your instructors Neil Patel and Eric Sue.
0:19.4	All right guys before we start we got a special message from our sponsor.
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0:50.8	low time.
0:51.8	Welcome to another episode of Marketing School.
0:55.0	I'm Eric Sue.
0:56.0	And I'm Neil Patel.
0:57.0	And today we are going to talk about
0:59.0	if focus groups are still worth the investment for market research.
1:04.4	So, Neil, what are focus groups?
1:06.8	Sure, focus groups is a group of people that are your deal
1:10.3	customer. They typically come in to office or in-person area and someone's asking
1:16.9	questions, recording them, filming them and trying to figure out problems to their solutions to their potential problems. I did a focus
1:25.3	group for an independent company that was paid by Yahoo around eight nine years ago.
1:30.5	They paid me a few hundred bucks. I was like yeah why not drive all the way up to
	...

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